Prasad said that this observation was made by Prime Minister Narendra Modi duing the MPs meet on December 16.
“If any enterprise or a shopkeeper comes on digital payment mode, then for small shopkeepers, middle shopkeepers no opening shall be done about transactions before November 8,” said Prasad at the Ficci Annual General Meet.
“Second, in terms of labour employment, if by digital payment, the number of employees rises, then no inquiry should be made pre-November 8 in case of small shopkeepers or other concerns. So that past is past. What is important is to bring into digital mode in a bigger way.”
“If your transaction is digital, your consumer base is known and if consumer base is known the lending banks would have enough material available about your commercial viability to expedite the loan system. Money coming in the system becomes available for banks to invest,” he added.
Prasad further said that digital governance is equal to good governance, transparent governance, and honest governance.
“Another mode of digital payment we are pushing in a big way is Aadhar-based payment. About 30 crore Indians do not have a mobile phone, but they have access to mobile phones at home. How will they have the benefits? That’s why we are encouraging Aadhar-based payment. We are planning it with the Finance Ministry,” he said.
Prasad also gave a demo on Aadhar-based payments using biometrics and smartphone.
He also said Goods and Services Tax (GST) is going to technology-enabled.
“We have 6.3 crore enterprise in India. Through the digital move of the government, every informal firms will move into formal economy.”
Source: Economic Times